Emirates says EU emissions rules could cost it $1B

Emirates airline says planned European Union emissions requirements could cost the carrier _ the Mideast's biggest _ as much as $1 billion over a decade.

Andrew Parker, a senior vice president for the Dubai-based airline, said Monday the EU's plan would have a "significant financial impact." He says Europe accounts for nearly a quarter of the carrier's operations.

EU requirements will eventually force airlines _ including foreign carriers _ to pay for their emissions as part of its cap-and-trade scheme. U.S. airlines took the EU to court over the proposal last month, arguing it breaches international law.

Parker spoke after outlining a company environmental report that claims Emirates' emissions are 26 percent lower than the industry average.